Secure the Future: Manage Succession

Organisations use various levels of systems to identify, develop, retain, and deploy leaders. The three most common ones are: replacement planning, succession planning, and succession management. Replacement planning focuses on minimising the immediate risk of vacancies. The process is informally naming single successors for each of the most critical positions in an organisation. Succession planning is a formalised process based on assessing talent throughout the organisation. This process seeks to minimise risk by preventing not only immediate job vacancies but also pipeline shortages. Succession management is the most proactive approach. The process passively assesses talent strength but also proactively uses job assignments.